AML/CTF - Do I need to Comply?

If you operate a financial services business in Australia that falls within the definition of a reporting entity in Part 1 Section 5 of the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act you will need to comply with the Act and the AML/CTF Rules. A reporting entity is one which provides the designated services referred to in Section 6 of the Act.